US-based Expeditors, considered a bellwether for forwarders in terms of financial performance, performed “relatively well” in a first quarter that saw volumes decline across all its business lines.
The company last night reported a 6% year-on-year decline in first-quarter revenue to a shade over $1.9bn, while operating income – the company does not report ebitda – dropped 15%, year on year, to $159m.
But president and chief executive Jeffrey Musser remained bullish, …

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Source: The Loadstar